Galt&Taggart Publishes Report on Main Developments that Took Place in Azerbaijani Economy Last Week: GDP down 3.8% y/y in 2016 Azerbaijan’s economy contracted 3.8% y/y in 2016, driven mainly by a 27.6% y/y decline in construction activity. Positive contribution to growth came from agriculture (+2.6% y/y), information and communication (+4.5% …

Georgia exported 179 million USD Nuts which is 9% of the products exported abroad from Georgia. In 3 top export products, nuts occupy the second place. This data is in the results of Geostat research. In the list of the most exported products, copper and concentrates occupy the first place. …

In 2016 Georgian Bank sector remitted 79.3 million GEL to state budget, up 67.5 million GEL compared to 2015 and down 79.9 million GEL compared to 2014. At the same time, the sector had to take unexpected expenditures too of 60.9 million GEL. In whole, the sector revenues in 2016 …

Ratio of two major commercial banks in total profits of Georgian bank sector is 67.8% (01.12. 2016 – 66%; + 2.7% m.m). Thirteen commercial banks of 16 ones finished the year of 2016 in profits of 696.7 million GEL (losses of 3 commercial banks marked 16.601 million GEL).

«If all of you are so smart, why am I so rich?» Warren Buffett, the world’s one of the richest and famous investors, said once. Not only brain and zealousness suffice to earn much money and succeed in business. Smartness is also required, you should determine priorities, be self-confident and …

“Tbilisi Balneology Resort will become a profitable institution thanks to valuable management and private investments”, Ketevan Khurodze, director of Meidan Group, one of the owners of the facility, told the Commersant. Major investments will be made in the facility development, she noted. Having privatized the facility, LLC Ialoni has assumed …

2000 loan holder contacted banks due to Loans dedollarization program. According to the latest data more than 100 clients dedollarized their loans. The head of banks association, Zurab Gvasalia declared that 5 days deadline was today concerning the message clients were supposed to get from banks. “If someone didn’t get …

“The separation  of banking  and non-banking activities is a necessity, banks must regain their  position of  business partners and  not competitors,” Tornike Abuladze, a member of the Developers Association and general manager of the construction company Arci said. According to him, despite the fact that in August 2014 the National …

“Edvex” is an innovative platform which connects drivers and brands with each other. Any driver can locate Ads on their automobiles and earn extra income. Edvex mobile application will monitor how many kilometers the driver will pass and calculate the salary according to this data. As for brands, they will …

According to the 4-clause plan of Government of Georgia, about 5 million USD will be spent on infrastructural projects implementation for the next 4 years. According to Ministry of Regional Development and Infrastructure, state budget is financing the ongoing major infrastructural projects by only 20%, while the remaining 80% is …

The presidential candidate of France stated that the relations with Russia − a strategic issue for Europe’s future. Former Prime Minister of France, presidential candidate of the country Francois Fillon in an interview with the Monde newspaper called irresponsible statements of politicians, who wanted the entry of Ukraine and Georgia …

The company objective is that Georgian-American Alloy enterprises satisfy western labor safety and environment standards. The company has already performed considerable job for improving gas purification system of ferroalloy plant. “The new 25.5 megawatt power furnace at no. 4 workshop will further move us closer to modern metallurgy industry standards”, …